Lund, Sweden, 08.00 am CET, February 26 2020 – BONESUPPORT™, an emerging leader in orthobiologics for the management of bone injuries, today publishes the interim report for the fourth quarter and the full year 2019.
PLATFORM FOR FURTHER GROWTH
“Revenue in the fourth quarter of SEK 46 million were again a record high. Sales in the US were SEK 23 million, which is an increase of 26 percent compared to the third quarter. Sales in Europe and the rest of the world (EUROW) grew by 21 percent compared to the fourth quarter of 2018. The strong growth in the US is very satisfying. We transitioned to a new distribution structure in October 2018 and since then we have been approaching the US market significantly more efficiently, both in terms of width and depth.”
Emil Billbäck, CEO
OCTOBER – DECEMBER 2019
- Net sales increased with 100 percent compared to previous year, and amounted to SEK 46.2 million (23.1). The EUROW segment continued to report stable growth of 21 percent compared to the same period last year. The NA segment reported an increase in sales with 454 percent, as an effect of the transition to the new distribution model and thereby low sales during previous year. For the US, a continued sequential increase of 26 percent was reported from the previous quarter.
- CERAMENT G and CERAMENT V grew by 23 percent compared to the same period previous year.
- Gross margin amounted to 88.9 percent (85.0).
- Operating profit amounted to SEK –38.6 million (–45.0).
- Earnings per share, before and after dilution, were both SEK –0.79 (–0.88).
JANUARY – DECEMBER 2019
- Net sales increased with 61 percent compared to previous year, and amounted to SEK 155.5 million (96.6). The EUROW segment reported growth of 40 percent compared to last year. Sales in the US reported a 99 percent increase.
- CERAMENT G and CERAMENT V grew by 45 percent compared to 2018.
- Gross margin amounted to 87.4 percent (84.3).
- Operating profit amounted to SEK –158.1 million (–174.4).
- Earnings per share, before and after dilution, were both SEK –3.10 (–3.46).
SIGNIFICANT EVENTS
- BONESUPPORT announced in November that Fergus MacLeod joined the Company as General Manager & Executive Vice President Commercial Operations EUROW.
- BONESUPPORT announced in December that the CERTiFy study with CERAMENT BONE VOID FILLER has been published in Journal of Bone & Joint Surgery.
- BONESUPPORT announced in December that Kristina Ingvar will join the Company as Executive Vice President Quality Management & Regulatory Affairs in February 2020.
SIGNIFICANT EVENTS AFTER PERIOD END
- BONESUPPORT announced at the end of January that the Company has signed an agreement with Skandinaviska Enskilda Banken (SEB) on a working capital facility of up to SEK 60 million.
- BONESUPPORT announced on February 12 that Patrick O’Donnell is leaving the Company and his role as GM & EVP Commercial Operations NA.
About BONESUPPORT™
BONESUPPORT (Nasdaq Stockholm: BONEX) develops and commercializes innovative injectable bio–ceramic bone graft substitutes that remodel to the patient’s own bone and have the capability of eluting drugs. BONESUPPORT’s bone graft substitutes are based on the patented technology platform CERAMENT. The company is conducting several clinical studies to further demonstrate the clinical and health economic benefits that its products deliver and a Premarket approval filing with the FDA (USA) for CERAMENT G is planned in 2021. The company is based in Lund, Sweden, and the net sales amounted to SEK 155 million in 2019. Please visit www.bonesupport.com for more information.
BONESUPPORT and CERAMENT are registered trademarks of BONESUPPORT AB.
For more information contact:
BONESUPPORT AB
Emil Billbäck, CEO
+46 (0) 46 286 53 70
Håkan Johansson, CFO
+46 (0) 46 286 53 70
Cord Communications
Charlotte Stjerngren
+46 (0) 708 76 87 87
www.cordcom.se
This information is such information as BONESUPPORT HOLDING AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 am CET on February 26 2020.